Central Perimeter the Target for Mixed-Use Development

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The 23-acre property at the intersection of I-285 and Peachtree-Dunwoody Rd is currently home to the Palisades office park. Before the recession, there were talks of converting the struggling office project into a mixed-use development, but those plans were sidelines when the economy crashed. But now that things, namely development and construction, are looking up for Atlanta, a San Francisco development firm wants another go at it. Shorenstein Partners bought the property back in 2009 from Tishman Speyer, who had talked of adding a big chunk of either office space or condo units.

An affiliate of Shorenstein Partners filed plans with Georgia Department of Community Affairs this week for a project of “regional impact.”  Sources say the new development could include a 200-room hotel, 425 residential units, and almost 55,000 SF of retail space. If these plans are approved, the project would break ground in the next year and deliver in 2024.

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